Asia-Pacific: Market for Broad Beans And Horse Beans (Dry) 2024

Market Size for Broad Beans And Horse Beans (Dry) in Asia-Pacific

The Asia-Pacific market for broad beans and horse beans (dry) totaled $X in 2022, approximately reflecting the previous year. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Production of Broad Beans And Horse Beans (Dry) in Asia-Pacific

In value terms, broad bean and horse bean production amounted to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 113% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

China (X tons) constituted the country with the largest volume of broad bean and horse bean production, accounting for 68% of total volume. Moreover, broad bean and horse bean production in China exceeded the figures recorded by the second-largest producer, Australia (X tons), twofold.

From 2012 to 2022, the average annual rate of growth in terms of volume in China was relatively modest.

The average broad bean and horse bean yield reached X tons per ha in 2022, growing by 4.3% on the previous year. The yield figure increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth appeared the most rapid in 2017 when the yield increased by 26% against the previous year. Over the period under review, the broad bean and horse bean yield hit record highs in 2022 and is likely to see gradual growth in the immediate term. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of broad beans and horse beans (dry) were harvested in Asia-Pacific; waning by -2.2% against the previous year. Overall, the harvested area, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 28%. Over the period under review, the harvested area dedicated to broad bean and horse bean production reached the maximum at X ha in 2018; however, from 2019 to 2022, the harvested area remained at a lower figure.

Exports of Broad Beans And Horse Beans (Dry)

Exports in Asia-Pacific

In 2022, overseas shipments of broad beans and horse beans (dry) increased by 5.9% to X tons, rising for the third consecutive year after two years of decline. In general, exports continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2017 with an increase of 70% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, broad bean and horse bean exports surged to $X in 2022. Total exports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +101.4% against 2016 indices. The growth pace was the most rapid in 2019 with an increase of 36% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Australia dominates exports structure, amounting to X tons, which was near 98% of total exports in 2022. China (X tons) took a little share of total exports.

Australia was also the fastest-growing in terms of the broad beans and horse beans (dry) exports, with a CAGR of +6.6% from 2012 to 2022. China (-1.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Australia increased by +2.4 percentage points.

In value terms, Australia ($X) remains the largest broad bean and horse bean supplier in Asia-Pacific, comprising 95% of total exports. The second position in the ranking was held by China ($X), with a 4.6% share of total exports.

In Australia, broad bean and horse bean exports expanded at an average annual rate of +4.6% over the period from 2012-2022.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, jumping by 19% against the previous year. Overall, the export price, however, saw a noticeable contraction. The pace of growth was the most pronounced in 2019 an increase of 66%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while Australia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (-1.9%).

Imports of Broad Beans And Horse Beans (Dry)

Imports in Asia-Pacific

After three years of growth, overseas purchases of broad beans and horse beans (dry) decreased by -18.1% to X tons in 2022. Total imports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +13.3% against 2018 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 47% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then declined markedly in the following year.

In value terms, broad bean and horse bean imports reached $X in 2022. The total import value increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 34%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Indonesia (X tons) was the largest importer of broad beans and horse beans (dry), comprising 42% of total imports. Vietnam (X tons) ranks second in terms of the total imports with a 15% share, followed by Thailand (10%), Japan (8.3%), India (7.8%), Taiwan (Chinese) (5.2%) and Malaysia (5%).

Imports into Indonesia increased at an average annual rate of +4.5% from 2012 to 2022. At the same time, Vietnam (+17.3%), India (+5.0%), Thailand (+4.2%) and Taiwan (Chinese) (+1.3%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +17.3% from 2012-2022. By contrast, Japan (-4.4%) and Malaysia (-8.5%) illustrated a downward trend over the same period. Vietnam (+11 p.p.), Indonesia (+7.2 p.p.), India (+1.6 p.p.) and Thailand (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Japan and Malaysia saw its share reduced by -8.5% and -10.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) constitutes the largest market for imported broad beans and horse beans (dry) in Asia-Pacific, comprising 38% of total imports. The second position in the ranking was taken by Japan ($X), with an 18% share of total imports. It was followed by Thailand, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia totaled +3.7%. In the other countries, the average annual rates were as follows: Japan (-3.4% per year) and Thailand (+4.5% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, increasing by 25% against the previous year. Overall, the import price, however, recorded a mild curtailment. The most prominent rate of growth was recorded in 2019 when the import price increased by 26% against the previous year. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+3.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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